State of New Jersey Common Pension Fund D Reduces Stake in Unum Group (NYSE:UNM)

State of New Jersey Common Pension Fund D cut its stake in Unum Group (NYSE:UNM) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,435 shares of the financial services provider’s stock after selling 2,385 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Unum Group were worth $3,975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 160 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Unum Group by 28.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock valued at $58,000 after buying an additional 179 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Unum Group by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider’s stock worth $330,000 after buying an additional 180 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of Unum Group by 3.1% during the 3rd quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider’s stock worth $392,000 after buying an additional 197 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Unum Group by 0.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,568,000 after buying an additional 202 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Price Performance

Shares of UNM opened at $74.99 on Thursday. The company has a market cap of $13.69 billion, a P/E ratio of 7.92, a PEG ratio of 1.13 and a beta of 0.80. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $79.43. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average price is $74.25 and its 200 day moving average price is $66.55.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. On average, research analysts forecast that Unum Group will post 9.15 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s payout ratio is presently 17.74%.

Unum Group announced that its board has initiated a stock buyback program on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company increased their price objective on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley upped their price target on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler raised their price objective on Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $79.00 price objective (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Finally, Jefferies Financial Group increased their target price on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.17.

Insider Transactions at Unum Group

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the transaction, the executive vice president now owns 54,827 shares in the company, valued at $4,217,292.84. The trade was a 15.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.